Apple generated $458 billion in revenue through physical sales and advertisement via the App Store in 2019.
The money – which Apple takes no commission from – was raised through services such as retail, ride-hailing and advertising. The American firm backed the study, and it was the first time Apple looked in-depth at App Store activity that doesn't make the company money.
In 2019, Apple's storefront earned $519 billion through sales, of which $413 billion was from physical goods and services. Moreover, $45 billion came from in-app advertisements. Finally, around $63 billion was generated through digital services and products such as subscriptions.
"The App Store is a place where innovators and dreamers can bring their ideas to life, and users can find safe and trusted tools to make their lives better," said Apple CEO Tim Cook.
"In a challenging and unsettled time, the App Store provides enduring opportunities for entrepreneurship, health and well-being, education, and job creation, helping people adapt quickly to a changing world.
"We're committed to doing even more to support and nurture the global App Store community — from one-developer shops in nearly every country to businesses that employ thousands of workers — as it continues to foster innovation, create jobs, and propel economic growth for the future."
In April 2020, it was revealed that 2.5 million iPhones had been shipped in China in March 2020.